It's significant development coming from the Tea Party favorite amid growing Republican acceptance of the idea - but also continued resistance from some conservatives who view citizenship for the nation's 11 million illegal immigrants as amnesty.

Speaking to the U.S. Hispanic Chamber of Commerce, Paul says, "Prudence, compassion and thrift all point us toward the same goal: bringing these workers out of the shadows and into becoming and being taxpaying members of society."

Paul emphasizes, though, that for him to support such an approach, border security must come first.